A retailer that doesn’t get a loss problem under control has a real problem. It bites into profit margins and pushes them closer to the brink. But a proactive asset protection strategy changes all of that.
For the past five years, CargoNet has reported a rise in cargo theft incidents over the Labor Day holiday (reported as the Thursday before to the Wednesday after). California leads in reported incidents, followed by New Jersey and Texas.
Retailers are feeling more confident these days—but danger still lurks. One significant area of concern is contractor / supply-chain security issues. US retailers think partners present a greater insider threat than ordinary retail employees, according to the survey.
Retail doesn’t start and stop at the front door of our stores. Ultimately, our value depends on our ability to broaden our influence while protecting every aspect of the business enterprise, including the supply chain.
Cargo theft often is thought of as a silent and victimless crime, despite the fact that it accounts for losses of billions of dollars annually in the United States.
Retailers often ask, “Why should I care so much about preventing thefts when I don’t own the merchandise until you deliver it?” The answer is because you, the retailer, stand to lose the most.
Cargo theft has a negative financial impact on shipping companies, state and local governments, insurance companies, retailers and even consumers. It is far from a victimless crime; in fact, the impact of stolen cargo reaches much further than many people realize.
Depending on local legislation and regulations, the import or export of certain products may be restricted or forbidden, and the customs agency enforces these rules.
Loss prevention must provide effective oversight in order to keep these operations effective and productive. Here are a few things to consider when building an effective relationship with the third-party logistics provider.
Envision the following scenario. You are at home around 8:15 at night watching television with your wife or kids when the phone rings. The...